Political Economy through the Looking Glass

Imagining Six Impossible Things about Finance before Breakfast

in Historical Materialism
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Two sets of co-authors, LiPuma and Lee, and Bryan and Rafferty, each argue that contemporary ‘speculative’ or ‘circulatory’ capitalism represents a deep rupture in the modality of capitalist accumulation from earlier forms of industrial capitalism such that the Marxian critique of value-form is now redundant. I argue that despite the altered surface-appearances of financialisation, the essential character of social domination carried out in the process of capitalist production-circulation in financialisation constitutes, rather, a continuation of the particular movement of capital from earlier historical conjunctures. As such, traditional formulations of Marxian categories such as class, exploitation and the value-form remain relevant and, indeed, necessary for the analysis of the mode of social domination in the era of financialisation.

Political Economy through the Looking Glass

Imagining Six Impossible Things about Finance before Breakfast

in Historical Materialism



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